That program should do what you want. Encryption is only one of the things it can do. It clearly says it can lock a folder as well. (lock meaning without password it won't do anything.)
I have a program at home that will hide folders. But I'm not sure what happen in the case of removable media. And while its hidden from my computer, results will show up in a search. Good enough to hide things from my roommates 6yo kid, but not what I would consider good.